Basler (UK) Limited (03271008): administration
- Status
- Administration ended
- Administration began
- 2017-09-01
- Administrators' firm
- Moorfields
- Formerly
- C.L. Clothing International Limited
- Incorporated
- 1996-10-30
- Location
- London
- Industry
- 46420 Wholesale of clothing and footwear
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
A summary of the Company's recent trading performance is shown below:
Statutory Accounts year Statutory Accounts year to to 30 April 2016 30 April 2015 Revenue 8,651,024 9,138,334 Cost of sales -5,304,643 -5,681,760 Grosss profit 3,346,381 3,456,574 Other operating income 481,460 400,360 Distribution costs ~4,131,319 -2,994,910 Administrative expenses -1,058,097 -1,462,091 Operating loss -1,361,575 -600,067 Investment income 2,231 110 Loss before tax -1,359,344 -599,957 Tax 0 0 Loss for the year -1,359,344 -599,957
The Group has traded poorly in recent years and this is consistent with the Company's performance as shown by the above accounts. In 2015, the Secured Creditor provided a loan a €13m loan to the Group however, trading performance continued to impact on liquidity.
Administrators' statement of proposals (2017-11-07) · Companies House register